
Conducted by Ogden & Fry on behalf of the Illinois Opportunity Project, pollsters found 36 percent of respondents favor bankruptcy, compared to 21 percent of those in favor of raising taxes as a way of trying to tackle the deficit. Of the 534 respondents that were randomly selected from a pool of 2020 general election voters earlier this month, 42.7 percent were undecided on the issue.
In concept, the asset consolidation bill is a good idea. But the legislation went from good to bad when lawmakers added unrelated benefit changes into the law. They stuffed piecemeal changes to Tier 2 into the bill and voted to pass it without any public analysis and little debate.
Comment: Read his letter included in this article. Among the accomplishments he claims are pension reform (there was none), the school funding bill (which will never come remotely close to being funded) and two capital bills (one of which is the preposterously oversized new one for $40 billion, funded by taxes on the working class)!
Kass: “I figure that eventually, I’ll be spending time under those harsh fluorescent lights in the federal courthouse in Chicago, learning all about Madigan Electric lobbyists close to Illinois House Speaker Michael J. Madigan.”
Comment: What’s “big” about it? The pensions covered represent just 4.5% of our pension unfunded liabilities. Actual savings are speculative, but in any event will barely move the needle. And there’s this astonishing comment from a lawmaker: “We’re finally doing what Illinois is supposed to do, which is get ahead of these issues before it becomes a crisis,” said Sen. Linda Holmes, an Aurora Democrat.
Pritzker: “In passing this bipartisan legislation, the General Assembly has demonstrated a historic commitment to responsible and sustainable fiscal management.” The Bond Buyer: “The state has not produced any actuarial review to support [the savings it claims].”
Politicians are once again doing pension reform on the cheap – stuffing piecemeal changes in an unrelated bill with no numbers and no debate. If Tier 2 is changed, it should be part of a dedicated pension reform bill that fixes all the funds at once, not snuck in as part of unrelated legislation.

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